We make a point to search for off-market properties. View our weekly list below.
10-10-2022 Orange County's active housing inventory stayed the same last week. But 5% fewer properties went into escrow. It feels like buyers are reacting to the high-interest rates.
Property values have yet to adjust. 42% of properties for sale have had a price reduction. When those sell and become price comparables we could see a slight value adjustment.
Some cities are still seeing median list price increases. The median list price in Irvine for Single Family homes is $2,000,000 and the median days on market is 42 days. On September 2nd the median list price was $1,850,000 and the median days on market was 28. In Irvine, homes are taking longer to sell and the prices are increasing.
I'm predicting home prices to hold steady through the holidays with less than a 5% adjustment. We will keep an eye on California Jobs, the labor market and federal interest rate hikes.
Take a look at this week's OC Market Report Video.
If you or anyone you know may be interested in purchasing a home just respond to this email and we will provide more information and schedule a showing. If you're targeting a specific neighborhood please let me know.
1. Huntington Beach 55+ community condo. $650,000 - 2 bed 2 bath - 1,100 sq ft
2. Santa Ana house near Orange & First. $750,000 - 3 bed 2 bath - 1,100 sq ft - 7,100 lot
3. Garden Grove house near Springdale & Lampson. $850,000 - 4 bed 2 bath - 1,400 sq ft - 6,000 lot
4. Cypress house near Valley View & Orange. $1,120,000 - 4 bed 2 bath - 2,000 sq ft - 6,600 lot
5. Costa Mesa house near Harbor & Baker. $1,200,000 - 3 bed 2 bath - 1,250 sq ft - 7,800 lot
6. Laguna Niguel house near Niguel & Beacon Hill. $1,700,000 - 4 bed 3 bath - 2,450 sq ft - 5,500 lot
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